Last week, it was revealed that the Prime Minister removed a portrait of Lady Thatcher from her former study in 10 Downing Street.
And while it was well within his right to do this, the move speaks volumes about the Labour Party’s mean mindedness. It only governs for its own.
On the horizon, there are two key changes that have prompted a collapse in confidence from business leaders.
First, Labour plans to overhaul workers’ rights.
Jacob Rees-Mogg says Starmer's decision to remove a Margaret Thatcher portrait from Downing Street is indicative of what sort of party he presides over
GB NEWS
Now, anyone looking at the British economy understands that the problem is not that we are overworked.
There are 5.5 million working age people on out of work benefits in this country.
Keir StarmerPABut equally importantly, productivity has been flat over the past two and a half decades, and has declined in the public sector.
But what is Labour’s solution? To inflate workers’ rights to turn the UK into a mini-European Union.
British businesses now face the prospect of ‘the right to switch off’, the right to work from home and the four day week.
It also undermines contract rights and treats employees as simpletons who cannot make choices for themselves without the big state supervising them.
Second, tax rises are on the way in the budget next month.
The Treasury, led by Rachel Reeves, cynically manufactured the pretence for the tax rises when she claimed there was a £22 billion fiscal black hole left by the Tories. Of course, what she didn’t mention was that the hole was created by her own inflation-busting pay rise for her trade union friends.
But it’s safe to say we can expect tax rises including a hike of Capital Gains Tax which reduces investment in our economy, leads to the misallocation of capital and discourages innovation or the establishment of new businesses.
Look no further than the latest report from Offshore Energies UK that has claimed 35,000 North Sea gas and oil jobs are at risk as ministers consider increasing the headline tax rate on upstream oil and gas activities from 75 per cent to 78 per cent.
For months we’ve been told all of Labour’s fantastical plans will be funded by growing the economy - but so far all the signs prove nothing has changed in 30 years.
